Route 28 Corridor Improvements

Loudoun and Fairfax Counties, Virginia

The project included the conversion of 10 signalized intersections to high-capacity interchanges and the widening of Route 28 from six to eight lanes.

Developed under Virginia’s Public-Private Transportation Act, Edgemoor served as the turnkey developer after coming up with a creative financing where future tax district revenues were monetized and allocated to pay back the loan, allowing improvements to be complete a decade sooner than originally planned. The project included the conversion of 10 signalized intersections to high-capacity interchanges and the widening of Route 28 from six to eight lanes.
The development of the Route 28 corridor into a limited access roadway served to address the growing importance of Route 28 as a critical transportation link and economic engine in the Northern Virginia region. The highway connects I-66 with the Dulles Toll Road/Greenway and Route 7 and serves numerous major businesses, a Smithsonian museum, and Dulles International Airport.

Coordinating Multiple Stakeholders with Different Goals

The Route 28 public-private partnership involved several key participants including VDOT, Fairfax County, Loudoun County, and hundreds of property owners represented by a landowner advisory board.

Solution

The Edgemoor team was responsible for coordinating these different public and private sector groups to ensure consensus on key issues regarding right of way, utility relocation, transportation design, sequencing of improvements, and financing. We implemented a collaborative development management solution by meeting with all respective stakeholders to make sure issues were addressed and that the project was delivered smoothly and with support from all key stakeholder groups.

Financial Structure

Create a cost efficient financial structure that would deliver 30-years’ worth of planned transportation improvements in 10 years.

Solution

Central to Edgemoor's financial solution was leveraging an existing special tax district in a new way. Rather than continuing with the current “Pay as You Go” system, we developed an approach that leveraged future tax streams to sell bonds to accelerate the construction. The Counties recognized the economic development uplift from an improved transportation network and assisted in further strengthening the project structure (via a moral obligation) to deliver more project scope sooner.

"Having the firm responsible for the long term operation of the building...at the table [during design & construction] is a quality control mechanism of sorts that helps ensure that the product being built using fast track construction will be an enduring asset."

Clifford Ham

Principal Architect at the Administrative Office of the Courts (AOC) of California

Route 28 Lifecycle

We understand that every client is different and that each project will contain some, if not all, of the Project Lifecycle elements. The Route 28 Corridor Improvements, structured as a Design-Build-Finance (DBF) project, included the following lifecycle elements:

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Edgemoor is a leading vertically-integrated developer and asset manager of buildings and infrastructure and offers tailored comprehensive development solutions to a broad range of clients.